First of all I believe that if Leonardo's old man is getting back $4200, that means he has a whole flock of kids and should probably spend a portion of that rebate on a vasectomy! That said this whole rebate thing is just a band aid to the real problem which is America is in major trouble with debt. From the Government to the people. Just look at the housing issues that people have gotten themselves into by living a champagne lifestyle on a beer income.

prisonpig wrote:
First of all I believe that if Leonardo's old man is getting back $4200, that means he has a whole flock of kids and should probably spend a portion of that rebate on a vasectomy! That said this whole rebate thing is just a band aid to the real problem which is America is in major trouble with debt. From the Government to the people. Just look at the housing issues that people have gotten themselves into by living a champagne lifestyle on a beer income.
Yeah, I just did the math. That would be 10 qualifying kids!

You are right about the lifestyle beyond one's means. This generation has to have it and they have to have it now. I live in a house that has twice the square footage that I grew up in. Of course, I grew up in California where no one had basements. I'm not sure how we lived in such a small space but we did and I thought we were doing alright. When we bought our house, those ARMs were tempting but I've never been much of a gambler and just from the experience I've had in my life, I saw how the economy goes up and down. I went with the standard 30 year mortgage and later refinanced to a 15 year mortgage when my personal economic situation was better and more stable. Of course, today, a house isn't enough. You've got to have that brand new $45-55,000 four wheel drive pick-up as well as something to tow behind it. Then there is the latest and greatest electronic devices which are a must for that new home. Can't live without a 50 inch plasma screen t.v. Well, this list goes on and on but the bottom line is that eventually too many people find themselves over-extended and in trouble especially when their personal economic situations aren't so hot. When will we ever learn to live within our means?

Pittakos wrote:
prisonpig wrote:
First of all I believe that if Leonardo's old man is getting back $4200, that means he has a whole flock of kids and should probably spend a portion of that rebate on a vasectomy! That said this whole rebate thing is just a band aid to the real problem which is America is in major trouble with debt. From the Government to the people. Just look at the housing issues that people have gotten themselves into by living a champagne lifestyle on a beer income.
Yeah, I just did the math. That would be 10 qualifying kids!

You are right about the lifestyle beyond one's means. This generation has to have it and they have to have it now. I live in a house that has twice the square footage that I grew up in. Of course, I grew up in California where no one had basements. I'm not sure how we lived in such a small space but we did and I thought we were doing alright. When we bought our house, those ARMs were tempting but I've never been much of a gambler and just from the experience I've had in my life, I saw how the economy goes up and down. I went with the standard 30 year mortgage and later refinanced to a 15 year mortgage when my personal economic situation was better and more stable. Of course, today, a house isn't enough. You've got to have that brand new $45-55,000 four wheel drive pick-up as well as something to tow behind it. Then there is the latest and greatest electronic devices which are a must for that new home. Can't live without a 50 inch plasma screen t.v. Well, this list goes on and on but the bottom line is that eventually too many people find themselves over-extended and in trouble especially when their personal economic situations aren't so hot. When will we ever learn to live within our means?

I, too, was tempted by the interest-only loans back in the day with their teaser rates, but had the foresight to realze that interest rates go up,and the economy does not stay hot forever. I chose a fixed 30 year and am hoping to refinance to a 15 yr soon. I also grew up with 4 siblings in a house smaller than what I have now. We made do. I was just reading an article on the front page of cnn with a person who was laid off and going to the food bank...while still having a 2500/mo interest only house loan.

$2500/month! Holy Crap! You know, it's hard to feel sorry for people who get themselves that much into debt.

Just found out he's 18. I think it's a good thing he's hanging around here. Might keep him from turning into another woody or utocoman.

Just another border asking to be spoonfed. I should think many of you happy valley boys get enough of that 7 days a week from you know who. ....Maybe I had better clarify that even more for some of you. I am not speaking of Rush and Sean...Is it clearer now? I did not think so.